back Back

NeoGrowth launches secured loan offerings for MSMEs

By Leandra Monteiro

June 25, 2021

  • India
  • Neogrowth
Share

NeoGrowth, loan, MSMEs, lending, India, NeoCash Plus, Vendor FinanceNeoGrowth Credit, a SME lending company in India, today announced the launch of the NeoCash Plus and Vendor Finance Plus as variants of secured loans for MSMEs, to coincide with the ongoing MSME week. This marks the first time that the company has come up with a suite of secured loan products for small businesses.

The NeoCash Plus is targeted to online and offline retailers who wish to get the maximum loan against their residential, commercial, warehousing or industrial property. The loan, ranging between INR 2 million to INR 15 million in size, is offered for a tenure of up to 60 months to enterprises that have been in existence for a minimum of three years. Vendor Finance Plus is launched for vendors, suppliers, manufacturers, and service providers to large corporates.

Arun Nayyar, CEO, NeoGrowth Credit Pvt Ltd said, “At NeoGrowth, we witness small businesses who struggle to grow due to their inability to access credit. We endeavour to help MSMEs overcome such funding challenges by offering business loans which are easy to apply for and convenient to repay. This new Plus suite of secured lending solutions augment our existing lending solutions and open up new avenues for growth for a range of MSMEs who are looking for long-term, hassle-free loans.”

NeoGrowth provides finance to small business owners such as retailers, restaurants, apparel shops, kirana stores, petrol pumps, groceries, pharmacies and other MSMEs, with flexible repayment options and customized products addressing multiple business needs. The Mumbai-based company claims to serves 70+ industries with a presence across 25 cities in India.

Previous Article

June 25, 2021

HIPS and Vourity to enable crypto payment for EV charging in Europe

Read More
Next Article

June 25, 2021

Circle to offer institutional-grade bridge to booming DeFi economy via DeFi API

Read More










IBSi Daily News Analysis

FinTech, future, trends

December 08, 2022

India

Here’s how the FinTech landscape looks like for 2023

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

7 FinTech funding rounds that occurred in the Americas in November 2022

Read More

Today

Peach Finance joins Mastercard Engage Partner Network to help lenders develop installment solutions

Read More

Today

UK challenger Allica Bank raises £100m in Series C led by TCV

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q3 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022